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Persistent link: https://www.econbiz.de/10008903019
Managers often use tournament incentive schemes which motivate workers to compete for the top, compete to avoid the bottom, or both. In this paper we test the effectiveness and efficiency of these incentive schemes. To do so, we utilize optimal contracts in a principal-agent setting, using a...
Persistent link: https://www.econbiz.de/10010340563
We study relational contracts in a firm-worker relationship with mutual uncertainty about match quality. The worker's actions are publicly observed and generate output, and hence information about the match quality. Despite the absence of private information, uncertainty about match quality...
Persistent link: https://www.econbiz.de/10012935641
We solve a long-term contracting problem with symmetric uncertainty about the agent's quality, and a hidden action of the agent. As information about quality accumulates, incentives become easier to provide because the agent has less room to manipulate the principal's beliefs. This result is...
Persistent link: https://www.econbiz.de/10011674079
extra one-time bonus tied to output. Under the bonus contract, we observe bunching of performance just above the bonus … workers gain experience. At the same time, the bonus contract induces considerable learning-by-doing for workers throughout … bunching. In contrast, under the standard piece rate contract, we find minimal evidence of bunching and only small performance …
Persistent link: https://www.econbiz.de/10012005340
derive the optimal contract for both experimentation and production when the agent has private information about his … asymmetric information is endogenously determined by the length of the experimentation stage. An optimal contract uses the length …
Persistent link: https://www.econbiz.de/10011926023
This paper uses a modified contractual model to study the role of religion-via entry and exit costs-in shaping preferences for getting and staying married. The religions that are analyzed are two "collective" religions: Judaism and Christianity. The paper takes a historical and contemporary look...
Persistent link: https://www.econbiz.de/10012887399
Persistent link: https://www.econbiz.de/10003770043
example of how markets, as opposed to private negotiations, can be used to determine efficient contract terms. -- law and … economics ; incomplete contracts ; construction ; agency theory ; industry studies ; outsourcing ; procurement …
Persistent link: https://www.econbiz.de/10003323165
Persistent link: https://www.econbiz.de/10003324860